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Burr Ridge board authorizes agreement to sell old Village Hall to buyer seeking daycare use
Summary
The board voted unanimously to enter a purchase agreement that would allow Goddard Real Estate to buy Village Hall for $2.7 million, with contingencies for zoning and inspections and the Veterans Memorial retained in village ownership.
The Village of Burr Ridge board voted unanimously on Feb. 23 to authorize entry into a purchase and sale agreement to sell the former Village Hall to Goddard Real Estate for $2,700,000, subject to customary inspection and zoning contingencies.
Evan, the village staff presenter, told the board the contract includes $135,000 in earnest money to be deposited within five business days and provides a 120-day inspection period with two optional 30-day extensions for the buyer to satisfy zoning, building permits and related approvals. He emphasized the vote that night would only authorize the village to enter the agreement and would not itself convey title or promise zoning approvals.
Craig Castle of Cushman & Wakefield, who said he advises Goddard in the transaction, confirmed the buyer intends to apply to the plan commission for zoning entitlements to operate an early-childhood care facility on the site. Staff and the buyer have agreed the sale does not include the Veterans Memorial or the memorial grounds, and the purchaser will convey easements to preserve village access for the memorial and overflow parking.
Trustees asked whether the village could back out later if the parallel new Village Hall construction costs escalate. Evan responded that the agreement contains seller-remedy and default provisions; the village could terminate for seller default but would be responsible for third-party costs incurred by the buyer, and backing out after signing could result in a “six-figure” exposure, he said. Staff reiterated that zoning was not promised and that any entitlements must follow the normal plan commission process.
Trustees who spoke characterized the potential daycare use as preferable to other commercial uses and noted the village had repeatedly placed the Village Hall sale on agendas with public notice. The board then moved and seconded the resolution to authorize the sale agreement; a roll call recorded unanimous approval (6-0).
The board will return to the project with additional materials as the buyer pursues entitlements and as staff completes parallel work on the new Village Hall site and construction estimates.
